Reported 2 days ago
Oil prices have stabilized after three consecutive days of gains, influenced by US discussions on potential sanctions against Russian and Iranian oil exports, as well as anticipation for the International Energy Agency's monthly outlook. Brent crude is trading around $74 a barrel, while West Texas Intermediate stands above $70. Market conditions remain tight, with increasing supplies and concerns over demand, especially from China, contributing to a relatively narrow trading range. OPEC has also revised global demand growth projections lower, aligning with expectations for balanced oil supplies through 2025.
Source: YAHOO